The Calcutta High Court held that a borrower cannot use a writ of mandamus to force a bank to accept or reconsider a rejected one-time settlement proposal in SARFAESI recovery. The ruling matters for lenders and auction purchasers because it reinforces that recovery challenges must usually follow the SARFAESI and DRT route rather than collateral writ proceedings.
We have not written our own note on this one yet. The source report and, where we found it, the primary document are linked below.